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Coverage ratio

​The coverage ratio allows you to see how we stand financially.

The coverage ratio is the relationship between our capital and the pensions that we must pay. Is that 100%? Then we have exactly enough money to pay out the pensions. But the government requires pension funds to have a buffer. Thus a high coverage ratio is important.



There are 2 coverage ratios

1. Present UFR funding ratio
This is the funding ratio at one specific moment. The UFR funding ratio is determined each month using the actuarial interest rate the Dutch Central Bank requires Pensioenfonds PGB to use to calculate its liabilities. The liabilities are made up of the capital needed to pay out the pensions now and in future.

Development of UFR funding ratio


Coverage ratio

​August 2020
​July 2020
​June 2020
​May 2020
​April 2020
​March 2020
​February 2020​95.9%
​January 2020​101.8%
​December 2019​105.4%
​November 2019​102.3%
​October 2019​100.9%
​September 2019​98.3%

2. Policy funding ratio
This is the average UFR funding ratio over the last 12 months. Based on this coverage ratio, the board decides each year whether the pensions can be increased. This coverage ratio can be found on the website.

Development of the policy funding ratio


Coverage ratio

​August 2020
​July 2020
​June 2020
​May 2020
​April 2020
​March 2020
​February 2020​101.9%
​January 2020​102.9%
​December 2019​103.3%
​November 2019​103.1%
​October 2019​103.6%
​September 2019​104.1%



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